5 questions lodged at 2024 Verbrec hybrid AGM

Q1. For the 800 plus shareholders who missed this AGM live, will a full archive of the webcast be published on your website? I couldn't find a copy of last year's webcast?

Answer: The chair Phillip Campbell gave a very quick "yes". Watch video of exchange via Twitter.

Q2. Our year end is June 30 yet we waited until the afternoon of Friday, November 29, the very last day possible under the law and the ASX listing rules, to hold this AGM. Thanks for the hybrid format so us interstate shareholders could participate but did it really have to be the last possible day, clashing with more than 100 other disorganised largely small cap companies doing the same thing. Could the external auditor comment as to whether there is any element of the audit process or resourcing which causes this AGM to be so relatively late, or is it simply a choice taken by the board. Is next year's AGM already booked in for Friday, November 28, 2025? If so, can this be brought forward?

Answer: The chair didn't grasp the criticism because the question wrangler butchered it. Watch video of exchange via Twitter.

Q3. Thanks for disclosing the proxies early to the ASX along with the formal addresses and well done for getting such strong support on this remuneration report and all other items. When disclosing the outcome of voting on all resolutions today, including this remuneration item, please advise the ASX how many shareholders voted for and against each item, similar to with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment on all resolutions and insight into the chronically low retail shareholder participation rate.

Answer: The chair was going to talk this through with Computershare, but no change in these poll results. Watch video of exchange via Twitter.

Q4. As a new shareholder, I'm not up to speed with the connections and history between our major shareholders, directors and executives. Could chair Phillip Campbell please briefly summarise the history of his relationship with our two largest shareholders, Brian O'Sullivan and Thorney, which together own 40% of the business. Brian is obviously on the board but how does Thorney express its views when it is not on the board? Do Brian and Thorney engage together on company issues and what is the history of both of these two large shareholdings?

Answer: The chair gave a good detailed response to this. He's not an old mate of Brian's and meets regularly with Thorney and other major shareholders. Watch video of exchange via Twitter.

Q5. How are we finding the pipeline in terms of sourcing new engineers to join our team. Given widespread labour shortages and the large number of projects across Australia, are we able to sponsor many offshore engineers to come to Australia to help meet demand. Also, which way is the pendulum currently moving in terms of our major clients out-sourcing engineering services or deciding this is a core competency which should be handled in-house?

Answer: The CEO said they were bringing some engineers in from offshore to fill gaps and there was no material swings in the out-sourcing pendulum. Watch video of exchange via Twitter.

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